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  1. #1
    I Am Rocking Now

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    Default Mexico's peso falls

    Mexico's peso falls again despite currency hedge auctions

    The peso slumped to its lowest level since mid-March against the dollar due to concerns over inflation and the potential impact on Mexico of new U.S. corporate tax cuts.
    Mexico's central bank sold an additional $500 million in foreign exchange hedges on Tuesday to support the peso amid economic uncertainty.
    The measures provided only fleeting relief for the currency, which fell further.

    U.S. President Donald Trump signed a tax overhaul into law on Friday that cut the corporate tax rate to 21 percent from 35 percent, fueling worries that Mexico will lose out on investment to its northern neighbor.



    Mexico's finance ministry is evaluating whether to make fiscal changes in response.


    Trump's threats to tear up the North American Free Trade Agreement (NAFTA) if he cannot renegotiate it in favor of the United States have also weighed on the peso. NAFTA underpins
    much of Mexico's foreign trade.


    Mexico's presidential election due in July 2018 has stoked further uncertainty, and analysts say the peso could see extended periods of volatility in coming weeks.

  2. #2
    I Am Rocking Now

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